Insurance Management Fundamentals Training Course

Participants can interpret core policy documents and identify contract obligations.

• Proposal forms, policy schedules, wordings, endorsements and certificates compared
• Insurable interest, utmost good faith and disclosure duties examined
• Declarations, warranties, conditions and exclusions interpreted against claims
• Indemnity, contribution, subrogation and proximate cause applied correctly
• Sum insured, limits, deductibles and excesses distinguished clearly
• Cancellation, renewal and midterm adjustment provisions reviewed

Participants can define a target insurance product and its risk boundaries.

• Customer needs translated into covered perils, limits and exclusions
• Target market statements define intended customers and distribution controls
• Portfolio segmentation by occupation, geography, asset type and exposure
• Product governance records document approval, review and withdrawal triggers
• Coverage gaps and overlapping protections identified through policy comparison
• Benefits, deductibles and waiting periods structured for health products

Participants can assess an insurance submission and recommend an underwriting decision.

• Underwriting appetite translated into acceptance, referral and decline criteria
• Proposal information tested for completeness, accuracy and material facts
• Exposure analysis considers location, occupancy, construction and protection
• Site surveys and risk engineering reports inform commercial underwriting
• Hazard identification separates physical, moral and morale hazards
• Underwriting files record rationale, evidence and approval authority

Participants can calculate and assess a technically sound insurance premium.

• Rate making combines expected losses, expenses, profit and taxes
• Frequency and severity analysis estimates expected claims cost
• Rating factors adjust premiums for exposure and risk characteristics
• Experience rating uses historical loss performance within defined credibility
• Burning cost calculations support pricing for larger commercial accounts
• Premium adequacy tested through target loss ratio assumptions

Participants can map policy administration controls from quotation to renewal.

• Quotation controls verify rating inputs, eligibility and authority limits
• New business checks confirm identity, disclosure and payment requirements
• Endorsement workflows maintain accurate coverage and premium records
• Renewal management reviews claims experience, terms and customer communications
• Policy administration data fields support reporting and regulatory returns
• Service standards measure turnaround time, errors and customer complaints

Participants can manage a claims case from notification through settlement.

• First notification of loss captures facts, coverage and urgency
• Claims triage routes cases by complexity, value and fraud indicators
• Coverage verification tests policy terms, exclusions and deductibles
• Loss adjusters, assessors and medical providers support evidence gathering
• Settlement authority matrices control payments, compromises and repudiations
• Customer communications explain decisions, documentation and complaint routes

Participants can explain reserve types and assess their effect on reported results.

• Case reserves estimate expected cost for reported unpaid claims
• Incurred but not reported reserves address delayed claims notification
• Outstanding claims development monitored through reserve movement analysis
• Loss triangles reveal development patterns across accident and underwriting years
• Reserve adequacy affects profit recognition, solvency and management decisions
• Claims inflation, litigation trends and repair costs inform assumptions

Participants can identify fraud indicators and design proportionate claims controls.

• Fraud typologies include application fraud, exaggeration and staged losses
• Red flags trigger referral, investigation and enhanced evidence requirements
• Data matching identifies duplicate claims, identity anomalies and suspicious providers
• Segregation of duties controls claim creation, approval and payment
• Recovery actions pursue subrogation, salvage and overpayment collection
• Fraud case records preserve evidence, decisions and escalation trails

Participants can compare reinsurance options and calculate basic recoveries.

• Retention setting balances risk appetite, capital and premium capacity
• Facultative reinsurance covers individual risks exceeding treaty parameters
• Quota share treaties distribute premium, losses and commission proportionately
• Surplus treaties allocate risk using lines and retained sums
• Excess of loss protection responds above specified attachment points
• Reinsurance recoverables monitored for credit risk and collection delays

Participants can assess distribution channels and customer conduct controls.

• Direct, broker, agency and bancassurance channels compared by economics
• Commission structures assessed for incentives, suitability and conflict risks
• Needs analysis documents product suitability and customer affordability
• Product disclosures communicate benefits, exclusions, costs and cancellation rights
• Complaint handling identifies root causes, remediation and systemic issues
• Conduct dashboards track declined claims, cancellations and vulnerable customers

Participants can interpret an insurer's core financial results and operating ratios.

• Technical account separates earned premium, claims and underwriting expenses
• Gross written premium and net earned premium distinguished accurately
• Loss ratio, expense ratio and combined ratio calculated
• Investment income and underwriting result reconciled to overall profit
• Claims ratio movements investigated by product, period and cause
• Management dashboards connect operational measures with financial performance

Participants can explain the purpose and major reporting concepts of IFRS 17.

• IFRS 17 measures insurance contracts using fulfilment cash flows
• Contractual service margin defers unearned profit over coverage periods
• Groups of contracts prevent profitable and onerous business offsetting
• Liability for remaining coverage distinguished from incurred claims liability
• Premium allocation approach identified for eligible shorter-duration contracts
• Financial reporting disclosures explain insurance service result and risk

Participants can relate insurance risks to capital needs and investment decisions.

• Risk-based capital links required capital to insurer risk exposures
• Solvency margin measures available capital against regulatory requirements
• Asset-liability matching aligns investment duration with claim payment patterns
• Liquidity planning covers catastrophe payments, collateral and operating needs
• Concentration limits reduce exposure to issuers, sectors and asset classes
• Stress testing evaluates adverse claims, market and catastrophe scenarios

Participants can document key insurance risks, controls and governance accountabilities.

• ISO 31000 risk assessment identifies events, causes and consequences
• Risk registers assign owners, controls, indicators and treatment actions
• Three lines model clarifies management, oversight and assurance responsibilities
• Own risk and solvency assessment supports forward-looking capital planning
• Outsourcing controls cover administrators, adjusters and technology providers
• Regulatory reporting calendars coordinate prudential, conduct and financial submissions

Participants can build, review and present a complete insurance management plan for a selected portfolio.

• Portfolio profile defines products, target customers, exposures and distribution
• Underwriting rules specify appetite, rating factors and referral thresholds
• Claims operating model sets triage, reserves, authority and fraud controls
• Reinsurance proposal documents retention, treaty structure and recovery assumptions
• Performance dashboard presents premium, loss ratio, expenses and solvency indicators
• Risk register prioritises conduct, operational, underwriting and reserving exposures
• Management presentation defends recommendations using financial and risk evidence